Search
 

HB 1223 Offers Data Center Incentives in Texas

DALLAS-In an EXCLUSIVE interview with GlobeSt.com's Amy Wolff Sorter, David Liggitt and Brant Bernet of CBRE explain that the bill will provide much-needed tax incentives to lure developers and owners of enterprise data centers.

By Amy Wolff Sorter | Updated on June 13, 2013

DALLAS-Anyone who has studied Texas’ commercial real estate market these days understands that it’s a region that is attracting high investment dollars and a fair share of development across all asset types. But one area in which the Lone Star State lags behind is in attracting data center developers and owners. The reason? Such centers are too expensive to build and operate in Texas.

Enter Texas House Bill 1223, which provides a state sales tax exemption for property that is “necessary and essential to operate a qualified data center.” The bill made it through the Senate and House and is currently awaiting Governor Rick Perry’s signature.  Notes Brant Bernet, CBRE senior vice president and head of the company’s critical environment practice: “It swept through Congress quickly. We believe it will be signed and won’t create any sorts of issues.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.